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Finance Industry Legislation: Maintainance - Law drafting instructions

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A decision made 21 July 2014:

Decision Reference: MD-C-2014-0134

Decision Summary Title :

Law drafting instructions for routine maintenance of the laws that regulate the finance industry

 

Date of Decision Summary:

8 July 2014

Decision Summary Author:

 

Director,

Finance Industry Development

Decision Summary:

Public or Exempt?

(State clauses from Code of Practice booklet)

Public

Type of Report:

Oral or Written?

Written

Person Giving

Oral Report:

N/A

Written Report

Title :

Law drafting instructions

 

Date of Written Report:

24 June 2014

Written Report Author:

Director,

Finance Industry Development

Written Report :

Public or Exempt?

(State clauses from Code of Practice booklet)

Public

Subject: Jersey Financial Services Commission (“JFSC”): law drafting instructions for routine maintenance of the laws that regulate the finance industry.

Decision(s): The Deputy Chief Minister confirmed that he was content for the law drafting instructions regarding routine maintenance of the laws that regulate the finance industry to be passed by the JFSC to the Law Draftsman for action.

Reason(s) for Decision: The attached law drafting instructions propose ‘maintenance’ amendments to the laws listed below to address certain minor operational issues, inconsistencies and lacunae that have been identified by the JFSC in the course of using the legislation in its day-to-day regulatory activities. The laws referred to are the:

 

  • Banking Business (Jersey) Law 1991
  • Collective Investment Funds (Jersey) Law 1988
  • Financial Services (Jersey) Law 1998
  • Insurance Business (Jersey) Law 1996
  • Proceeds of Crime (Supervisory Bodies) (Jersey) Law 2008

 

(Together, “the regulatory laws”).

Resource Implications: There are no significant resource implications identified.

Action required: The Director, Finance Industry Development, to provide confirmation to the Law Draftsman that the Chief Minister is content for the attached law drafting instructions to be submitted to the Law Draftsman.

Signature:

 

 

 

Position:

 

 

Deputy Chief Minister of Jersey

Date Signed:

 

Date of Decision (If different from Date Signed):

 

 

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